The announcement was made by organisers, who confirmed the popular family fun day out will return on Sunday, June 11 next year.
More than 51,000 people attended the event this year and organisers have promised even more excitement in the air and on the ground for 2023.
Next year will mark the 80th anniversary of the famous Dambusters Raid – an attack on German dams on a night in 1943 – and the 75th anniversary of the Berlin Airlift.
A standard ticket price will remain at last year’s price of £34 and children who are under the age of 16 and are accompanied by a paying adult will still be able to enter for free.
It comes as the country is plunged into a recession, with the UK facing its biggest drop in living standards on record and people continue to grapple with the cost of living crisis.
Marilyn Summers, the air show’s commercial director said: "We want to make sure that the Cosford Air Show remains a fun and affordable day out for everyone.
"The price of a lot of things are going up right now and we wanted to make sure that, for the average family, the Cosford Air Show wasn’t one of them."
Organisers are already in talks with colleagues from across defence, partners from other nations’ air forces and members of the wider private aviation community to see what aircraft will be available to display on the Shropshire base.
Cosford Air Show Chair, wing commander Helena Ramsden, added: "I am delighted that we can announce the return of the air show today.
"It’s a highlight of the West Midlands’ calendar and an important event for the Royal Air Force and aviation in general.
"The air show remains a great way for us to engage with the public, to showcase the Royal Air Force’s capabilities and to celebrate the Service’s history while looking forward to the next generation of its people and technology."